Economic Newsletter : July 2018

Focus Issues

High Impact News

India overtakes France as 6th biggest economy in the world

India has overtaken France to become the world’s sixth biggest economy, latest data from the World Bank show. India is now a USD 2.597 trillion economy, a tad higher than France’s USD 2.582 trillion. It will be the world’s fourth-largest economy by 2022 ...

1990 Emergency Ambulance Service expands Country wide

Indian PM Narendra Modi joined Sri Lankan PM Ranil Wickremesinghe through video conferencing for the launch of the country-wide expansion of the 1990 Suwaseriya Emergency Ambulance Service to Jaffna on 21 July.

Waiting for Vyomnaut- India close to putting an astronaut in Space

On July 5, the Indian Space Research Organization performed a crucial pad-abort test on their crew capsule spacecraft, a successful crewed launch, which would make India only the fourth country ...

India and Sri Lanka sign MoU to fund 3400 toilets in Batticaloa

India and Sri Lanka signed a Memorandum of Understanding (MoU) in sanitation sector under which 3400 toilets would be constructed in Batticaloa District of Sri Lanka...

Indian State beats world leaders in Renewable Energy

Karnataka added 5 gigawatts of renewable energy capacity in the last year alone, becoming the leading Indian state in green power. It overtook global leaders like Denmark and the Netherlands. Karnataka achieved this feat on the back of rising cost of coal that pushed the state towards alternative energy sources.

Pidilite opens manufacturing plant in Polgahawela

A state-of-the-art manufacturing plant of Pidilite Lanka Ltd. was formally commissioned at Polgahawela in Sri Lanka’s North Western Province o 10 July. Pidilite Lanka Ltd. is a joint venture established in 2015 between Pidilite Industries Ltd., one of Asia’s leading adhesive and construction chemical company ...

A look at Indian AgriTech Startups That Are Revolutionising Agriculture

AgriTech in India has become a booming field with numerous startups working with technologies such as data analytics, machine learning and satellite imaging, among others, enabling farmers to maximise their output. AgriTech is clearly leading India’s next green revolution.

Brandix Vizag to jack up production by over 50%, to hire 10,000 more workers

Leading Sri Lankan apparel manufacturing company Brandix’s Indian production facility is planning to jack up its production capacity by over 50%, and has begun the process to recruit 10,000 additional workers for this purpose in India.